Invest Like the Best with Patrick O’Shaughnessy
Business:Investing
My guest today is Erik Serrano Berntsen. Erik is the CEO of Stable Asset Management, which he started 14 years ago in his early 20s and has scaled to over $3 billion in AUM. Unusually, Stable’s strategy focuses on other investing firms. They look to back the Blackstone's of tomorrow and provide those founders with capital and support so their time is spent doing what they do best, which is typically investing. We discuss the commonalities among promising founders in this sector, how Stable serves as a full resource to their companies, and some harsh truths learned from building an investing business. Please enjoy my conversation with Erik Serrano Berntsen.
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For the full show notes, transcript, and links to mentioned content, check out the episode page here.
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Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes.
Past guests include Tobi Lutke, Kevin Systrom, Mike Krieger, John Collison, Kat Cole, Marc Andreessen, Matthew Ball, Bill Gurley, Anu Hariharan, Ben Thompson, and many more.
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Show Notes
(00:03:33) - (First question) Exploring the allure of investing in investment firms
(00:08:20) - Discussing the scarcity of investors in investment firms
(00:18:20) - Strategies for generating returns for investors
(00:22:50) - Analyzing risk/return dynamics in portfolios
(00:26:26) - Unveiling surprising insights from Project Legends
(00:29:56) - Characterizing the ideal General Partner (GP)
(00:37:23) - Identifying red flags in GPs' practices
(00:44:10) - Viewing investment strategies as marketable products
(00:52:52) - Delving into the emotional aspects of investing
(01:01:57) - Tracing the lifecycle of an investment firm
(01:13:04) - Offering guidance to aspiring young investors
(01:18:24) - Reflecting on the notion that ‘nice people finish last’
(01:23:52) - The kindest thing anyone has ever done for him
Will England - A Primer on Multi-Strategy Hedge Funds - [Invest Like the Best, EP.342]
James Cameron - The Futurist - [Founders, Forever Episode]
Lee Ainslie - Hedge Fund Maverick - [Invest Like the Best, EP. 341]
Nick Kokonas - Know What You Are Selling – [Founder’s Field Guide, Forever Episode]
Des Traynor - Real Talk about AI and Software - [Invest Like the Best, EP.340]
Samo Burja - The Great Founder Theory of History - [Invest Like the Best, EP.339]
Chris Paik - Venture Investing Frameworks - [Invest Like the Best, EP.338]
Josh Kushner - Building Thrive Capital - [Invest Like the Best, EP.337]
Jeremy Giffon - Special Situations in Private Markets - [Invest Like the Best, EP.336]
Dave Yuan - A Primer on Vertical Market Software - [Invest Like the Best, EP.335]
Kevin Kelly - Be Generous and Unique - [Invest Like the Best, EP.334]
Justin Mares - The US Health Crisis - [Invest Like the Best, EP.333]
Scott Goodwin - Know The Names - [Invest Like the Best, EP.332]
Rolex: Timeless Excellence - [Business Breakdowns, Forever Episode]
Kieran Goodwin - Imagination, Volatility, and the Pursuit of Alpha - [Invest Like the Best, EP.331]
Henry Schuck - Building ZoomInfo - [Invest Like the Best, EP.330]
Karen Karniol-Tambour - Macro Headwinds vs. Tech Tailwinds - [Invest Like the Best, EP.329]
Fidji Simo - Creating Delightful Consumer Experiences - [Invest Like the Best, EP.328]
Bessemer Venture Partners - Building a VC Firm that Lasts Centuries - [Invest Like the Best, EP.327]
Alexis Rivas - A New Blueprint for Homebuilding - [Invest Like the Best, EP.326]
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